what is accounts receivable and accounts payable and how to
use accounts receivable and accounts payable?
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Answer / syed iliyas
Accounts payble and accounts recievable are the credit
purchases and credit sales which has to collect and pay the
amount further. The register was maitained for accounts
payable and recievable called accounts payble register and
accounts payble reigster which indicate due date and over
due by days which will make easy to collect or pay the
bills.
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Answer / r sumitra
acconts recv is the amount of money 2 be recd 4m debtors
accounts payable amount due to creditors
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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
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